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AI optimism is now copper's biggest driver: Chart of the day
Once viewed primarily as a barometer of global manufacturing, copper prices are increasingly moving on expectations that the AI boom will fuel years of investment in data centers, electric grids, and power infrastructure. While data centers account for only 1% of global copper demand today, Goldman argues investors are increasingly pricing the metal based on expectations for the AI boom — including years of expected spending on data centers, power grids, transformers and transmission infrastructure rather than current consumption alone. "AI has become a key narrative shaping expectations for future power, grid and ... (full story)
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From brecorder.com | 2 hr 33 min ago
Copper ticked up on Tuesday, supported by fears of supply-side tightness and strong Chinese buying, despite macroeconomic demand worries from the escalation in the US- Iran war. The benchmark three-month copper on the London Metal Exchange increased 0.29% to $13,661 a metric ton by 0300 GMT. The most-traded copper contract on the Shanghai Futures Exchange ...
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